The UK competition watchdog announced its decision to block Microsoft Corp.’s $69 billion acquisition of Activision Blizzard, stating a commitment to prioritize UK interests on the global stage, as reported by Bloomberg.
During questioning by UK lawmakers, Sarah Cardell, CEO of the Competition and Markets Authority, was asked about the frequency of discussions with the US Federal Trade Commission and the perceived benefits of the CMA’s decision to block the deal.
“We are absolutely not doing the bidding of other agencies,” Cardell told a committee of politicians Tuesday. “Our responsibility at the end of the day is to look at the impact for the UK.”
“When we are looking at those deals of course we are highly mindful of fact that we want to ensure continuity and integrity of analysis,” Cardell said.
Related: EU Backs $69B Microsoft, Activision Blizzard Deal
The CMA responded to the European Commission’s approval of the Microsoft deal, stating that it would give Microsoft control over the terms and conditions of the cloud gaming market for the next decade.
The US has filed a lawsuit regarding a deal and a hearing is planned for August. Cardell informed the panel that further negotiations with other agencies were reliant upon waivers from the merging parties. During the final stages of the CMA’s investigation into Microsoft, they were limited in discussions due to a lack of waiver from the FTC.
The UK’s competition regulator has recently made several significant decisions involving major tech companies such as Microsoft and Meta Platforms Inc.’s Giphy deal, gaining attention in the global arena following Brexit.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI